How will NSE & West Bengal Government’s MOU for SMEs help businesses? 

If you have a startup or SME in West Bengal, you need to read this blog until the end to know the good news for starting 2024 with a bang. On November 22, on the sidelines of the “Bengal Global Business Summit”, NSE in India and the West Bengal government signed an MoU to help SMEs raise funds in the state. 

As per the MoU, NSE will conduct MSME camps, seminars, road shows, workshops, and knowledge sessions to help SMEs and startups to raise funds through their NSE Emerge platform. It will help the over 8.21 lakh Udyam-registered MSMEs as of November 2023 with data in the MSME Ministry of the West Bengal Government dashboard.  

Through its SME Emerge platform, the NSE of India has already helped 396 companies raise over 7,800 crores as of November 2023. The market capitalisation, depending on the NSE stock price of these companies, is over 94,000 crore rupees. Out of the 396 companies listed on the platform, only 16 are from West Bengal and have raised funds in the amount of over 244 crore rupees. 

So, suppose you have one of the lakhs of Udayam registered MSME or a new SME or startup. In that case, you need to know how the MoU was signed between the NSE of India and the West Bengal Government to raise funds for a promising future. 

What was the MoU signed by the NSE of India and the West Bengal Government?

In November, Mamata Banerjee attended the “Bengal Global Business Summit” along with Mukesh Ambani and many other top industrialists in India and worldwide. The summit aims to increase investment in West Bengal to create more job opportunities. Also, to help the SMEs and startups raise funds, the government signed an MoU with the NSE of India. Debashish Bandhyapadhya, the special secretary of the MSME & Textiles, signed the MoU on behalf of the West Bengal Government. Sriram Krishnan, CBDO or Chief Business Development Officer, signed the MoU on behalf of the NSE. 

How will the MoU between the NSE of India and the West Bengal government help MSME?

Before knowing how the MoU between the NSE of India and West Bengal help MSMEs, it is critical to know about the NSE Emerge platform and SME IPO. NSE, being the largest exchange in market capitalisation, is also helping small and medium enterprises and startups that cannot raise funds through IPO or initial public offerings. Hence, it started the NSE Emerge platform in 2012 for SMEs and startups to list on the SME IPO with approval from its board and without approval from SEBI. It increases their exposure to potential investors to raise capital without needing to comply with the many regulations of a regular IPO. Many companies from the SME platform have succeeded in having an IPO and listing their stock on the NSE to have a high NSE stock price

Having seen the NSE Emerge platform and SME IPO, it is time to check how the MoU between the NSE of India and the West Bengal government helps SMEs raise capital. As per the MoU, NSE will conduct MSME camps across the state with the help of the West Bengal government. The camps, along with knowledge sessions, workshops, and road shows, will guide SMEs and startups to help raise funds through the Emerge and SME IPO platform.  

The above facts will help you attend the many NSE of India camps for MSMEs to know how to raise funds through the NSE Emerge platform to list on SME IPO to be visible to a wide range of investors and expand exponentially. Welcome to Stockify, your gateway to alternative investment avenues with lower entry barriers. At Stockify, we empower retail investors by providing access to unlisted shares of Blue-chip stocks before their official listing on the Indian stock market (BSE | NSE). Our mission is to assist investors in acquiring unlisted stocks, enabling them to make early investments and potentially reap multifold returns. With a focus on democratising investment opportunities, Stockify opens doors for individuals who wish to buy unlisted shares and embark on a journey towards financial growth.